# Trilemma Index Regressions: OECD vs. Non-OECD Subsample

| Variable | MI (OECD) | MI (Non-OECD) | ERS (OECD) | ERS (Non-OECD) | FO (OECD) | FO (Non-OECD) |
|:---|---:|---:|---:|---:|---:|---:|
| Z_1 | 2.8836*** | 0.0751 | -0.8251 | 0.4766 | -2.5985* | 3.9457*** |
| | (1.0254) | (0.2564) | (1.4244) | (0.3999) | (1.3479) | (0.5213) |
| Z_2 | -0.3958*** | -0.0175 | 0.1345 | -0.0350 | 0.3427* | -0.6081*** |
| | (0.1400) | (0.0399) | (0.1946) | (0.0623) | (0.1843) | (0.0820) |
| Z_3 | 0.0148*** | 0.0009 | -0.0053 | 0.0001 | -0.0120* | 0.0249*** |
| | (0.0053) | (0.0017) | (0.0074) | (0.0026) | (0.0070) | (0.0035) |
| fiscal_bal_gdp | 0.0023 | 0.0006 | 0.0027 | -0.0003 | 0.0024 | 0.0006 |
| | (0.0020) | (0.0007) | (0.0021) | (0.0010) | (0.0019) | (0.0007) |
| nfa_gdp_lag | 0.0130 | 0.0047 | -0.0241 | -0.0026 | 0.0195 | 0.0053 |
| | (0.0168) | (0.0049) | (0.0187) | (0.0072) | (0.0169) | (0.0061) |
| rgdp_growth | 0.0003 | 0.0003 | 0.0035** | 0.0005 | -0.0016 | 0.0002 |
| | (0.0016) | (0.0004) | (0.0015) | (0.0006) | (0.0013) | (0.0004) |
| log_rel_opw | -0.0917* | -0.0232** | 0.0580 | 0.0129 | 0.1720*** | 0.0443** |
| | (0.0503) | (0.0092) | (0.0697) | (0.0142) | (0.0651) | (0.0179) |
| kaopen | -0.0266** | -0.0096** | 0.0233* | 0.0403*** | | |
| | (0.0107) | (0.0043) | (0.0127) | (0.0066) | | |
|:---|---:|---:|---:|---:|---:|---:|
| N | 1116 | 2985 | 1128 | 3354 | 1184 | 3474 |
| R² | 0.1514 | 0.0259 | 0.0040 | 0.0958 | 0.2448 | -0.0204 |
| Countries | 34 | 109 | 35 | 113 | 36 | 117 |

*Panel GLS with country and year fixed effects. Standard errors in parentheses.*
*\*p<0.1, \*\*p<0.05, \*\*\*p<0.01*